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I submitted a 1099 A to a business and a 1099 MISC appeared
Hi there, I submitted a 1099 A to a business and a 1099 MISC appeared on my tax transcript instead. Do you know why this would happen? Thanks! … read more
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We just received a 1099 A-abandonment of property for
We just received a 1099 A-abandonment of property for timeshare we were in dispute with contractually. We signed a Warranty Deed in Lieu of Foreclosure, but they continued to send us threats from a co… read more
Lev
Lev
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My husband and I did a quick claim deed in lieu of
my husband and I did a quick claim deed in lieu of foreclosure. We purchased the house for 50,000.00 and have rented it out until we did the quick claim deed. The realator sold it for 49900 on March 2… read more
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TAX LAW: Taxpayer filed Chapter 7 bankruptcy in 2015.
TAX LAW: Taxpayer filed Chapter 7 bankruptcy in 2015. Mortgage company foreclosed on the home in 2016 and provided the taxpayer with form 1099-A. How is this data entered on their 1040 tax return? Blo… read more
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We had a timeshare that we let go back and received a 1099-A
we had a timeshare that we let go back and received a 1099-A form and i'm not sure how to file this on my tax return. … read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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If I am doing a deed-in-lieu on my house, can u tell me what
If I am doing a deed-in-lieu on my house, can u tell me what the taxes are I would have to pay if I owe 74,000 and how long do I have to pay it??… read more
Barbara
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,I had a foreclosure on my property in Texas 3 June 2014.
Hi, I had a foreclosure on my property in Texas 3 June 2014. June 9, 2014 I received a letter from a Law firm that my property has been sold at an auction and there may be leftover funds and they need… read more
Lane
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I have a 1099-A for a timeshare abandoned--Box 1--Date of lenders
I have a 1099-A for a timeshare abandoned--Box 1--Date of lender's acquisition or knowledge of abandonment" 3/4/2013. Box 2-"Balance of principal outstanding" & 4-"fairmarketvalueofproperty" are both … read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
This is the same situation as the discussion on Wyndham Timeshare
This is the same situation as the discussion on Wyndham Timeshare 1099-C and 1099-A. First, I used a lawyer to obtain a "Deed in Lieu of Foreclosure" this was completed in 2011. I received a 1099-C in… read more
taxmanrog
taxmanrog
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We received a 1099 A from our mortgage co. and our tax person
We received a 1099 A from our mortgage co. and our tax person told us we need a 1099C. I was told by our foreclosed mortgage people we do not. Who is right?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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During the 2012 tax year, I received a 1099-A Form. My tax
During the 2012 tax year, I received a 1099-A Form. My tax preparer is at a lost as to how to report this information, and as to the legal and tax ramifications of this form. Here are some facts you m… read more
Phillip B, EA
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I have recieved a 1099-C from Wyndham Vacation Resorts. I signed
I have recieved a 1099-C from Wyndham Vacation Resorts. I signed a deed in lieu 6 months ago and today recieved a 1099-C which shows the released me of $180,000 of Debt. Do I owe taxes on this as earn… read more
Anne
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I had 3 rental properties that were foreclosed on. One was
I had 3 rental properties that were foreclosed on. One was in 2009 and 2 were in 2010. I received 1099-A forms from all three properties. I have consulted with 2 different attorneys who both have said… read more
Robin D.
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We received a 1099-C from Wyndham timeshare. We had given
We received a 1099-C from Wyndham timeshare. We had given them back their property by signing a Deed in Lieu of Foreclosure. I can't see how this is income. We haven't got to keep any property. Do we … read more
Dave CPA
Dave CPA
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1. In disposal of rental real estate, what is considered or
1. In disposal of rental real estate, what is considered or defined as a taxable transaction? Here is the pretext for the question: I have rental real estate property that I had to abandon and stopped… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
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I received a form 1099-A, abandonment or aquisition of property.
I received a form 1099-A, abandonment or aquisition of property. The date in box 1 is 04/29/08. The amount in box 2 is $13,235.20. The amount in box 4 is $48,500.00. What does all this mean? Will I li… read more
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We have filed for Chapter 7 Bankruptcy and included our home
We have filed for Chapter 7 Bankruptcy and included our home in that filing. The credit Union that financed our home wants us to sign the property back to them in lieu of them foreclosing on the prope… read more
Ed Johnson
Ed Johnson
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Bachelor's Degree
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my house was forclosed and sold at sheriffs sale. I ...
my house was forclosed and sold at sheriff''s sale. I received an "Acquisition or Abandonment of Secured Property " form for the irs, after looking at it, it says that I owed $78,000 and the mortgage … read more
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